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B&G Foods Q1 Sales, Net Increase

By Eric Volkman - Apr 19, 2013 at 10:13AM

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The company says higher volumes and two new-ish product lines provided the gains.

For the first quarter at B&G Foods (BGS -2.12%), net sales came in at $171 million, the company announced Thursday, bettering the $157 million of the same period the previous year.

The bottom line also rose, to $19.6 million ($0.37 per diluted share), from Q1 2012's $16.8 million ($0.35).

The average analyst estimate for revenue was $170 million, with an EPS projection of $0.38.

The company quoted its CEO David Wenner as saying that the improvements were due to "a healthy mix of base volume gains and acquisition growth." The latter refers to B&G's purchase of the New York Style and Old London snack brands from Chipita America in September 2012.

The comestibles firm also provided EBITDA guidance for the full year. For fiscal 2013, it expects that line item will be $180 million-$184 million. EBITDA for this past quarter was $45.7 million, 7% higher than the $42.6 million of Q1 2012.

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